In a study recently released by a Stanford Economist, Tony Seba, it is mentioned that by the end of 2030 all the global oil business will come to an end. Recently there has been a lot of buzz about the fossil fuels going to extinct and electric cars going to have significant impact on the transportation business.
What is electronic transportation?
In this study, Tony talks about the electrification of transportation very soon. This study which has been published by Stanford University, mention that within eight years all the fossil-fueled cars will vanish and electric cars will replace them. The main reason behind this is that the cost of the electric cars would be comparatively very less so this will result in the downfall of the petroleum industry.
This study which is titled as ‘Rethinking Transportation 2020-2030’, mentions how people will switch to electric cars instead of fossil-fueled cars when they will find the electric ones almost ten times cheaper than the fossil fuel ones. The life span of the electric cars will also be much greater than the fossil-fueled ones.
According to his cost curve, by 2025 all the new vehicles, cars, buses, tractors, vans etc will be electric. In fact anything that moves on the wheels is going to be electric.